PSX: selling at bourse, KSE-100 down over 800 points

The KSE-100 fell 832.57 points, or 0.51%, to 161,542.30 by 9:50am on Monday, as selling spread across the Pakistan Stock Exchange, Business Recorder reported. The decline came as investors awaited a Monetary Policy Committee meeting scheduled for the same day, although the report noted that expectations about the rate decision were uncertain.

Analysts cited in the report expected the State Bank of Pakistan to raise its policy rate by 50 basis points, pointing to inflation and external risks. Commercial banks, oil and gas exploration companies and power generation stocks faced selling, with HUBCO, OGDC, MARI, PPL, HBL, MEBL and NBP among the shares trading lower. The index had also lost 4,044.84 points, or 2.4%, over the previous week, extending its decline to five consecutive weeks.